Prima Marine Public Company Limited

Prima Marine Public Company Limited, or PRM, announced a special dividend payment of 0.20 baht per share from retained earnings, after second-quarter 2026 net profit reached 580.5 million baht, up 20.2% from the same period last year. Total service revenue came in at 2.3171 billion baht, up 4.5%, driven mainly by the floating storage and offloading unit business, or FSU, where vessel utilisation rose to 100% from 76.7% in the previous quarter, as oil storage demand increased amid supply volatility in the Middle East. The petroleum and chemical tanker business, or PCT, posted revenue of 941.1 million baht, up 8.7%, while the offshore support vessel business, or OSV, saw revenue rise 6.1% this quarter. For the first six months of 2026, PRM reported net profit of 1.2094 billion baht. Excluding special items from the prior year, net profit would be higher by 270.9 million baht, or about 28.9%. The company set the ex-dividend date for 27 August, the record date for 28 August, and the dividend payment date for 11 September 2026.

Asia Plus Securities says the Hormuz Strait negotiations, which added demands for war damage compensation between the United States and Iran, sent Brent crude oil prices surging more than 5% and US government bond yields soaring near previous highs, prompting cumulative foreign capital outflows from the Thai stock market of over 9 billion baht since the start of August. The SET Index yesterday closed up 12.36 points at 1,624.36 points, but excluding the influence of DELTA shares, the actual index would have been down as much as 5 points, reflecting still-heavy selling pressure. The research team assesses that persistently high geopolitical tensions and domestic stimulus measures, such as the Thai Helps Thai Plus scheme with cumulative spending exceeding 100 billion baht and the Thai Travels Thai Plus scheme expected to reach a conclusion within one to two weeks, will benefit refinery and oil transport stocks, as well as retail, food, and leasing sectors. The investment strategy recommends three standout stocks: PTT, a large-cap stock benefiting from recovering oil prices and offering high dividends; CENTEL, expected to post strong profit growth in the second quarter of 2026; and PRM, which gains positive sentiment from the Hormuz Strait crisis boosting marine oil transport service fees.

Prima Marine shares, or PRM, have received buy recommendations from leading brokers, who assess that earnings are entering a strong growth phase from the second quarter of 2026 onward. Analysts forecast normalized profit for the second quarter of 2026 will reach as high as 550 million baht, as Middle East tensions spur oil storage demand, driving utilization rates for the company's five floating storage units to 100 percent, up from the normal 85 to 95 percent, while its entire fleet of 71 vessels continues to operate normally. A weaker baht also boosts US dollar-denominated revenue when converted back to baht. For the second half of 2026, analysts see profit growing both quarter-on-quarter and year-on-year in every quarter, with FSU utilization expected to remain at 100 percent through year-end, and the company preparing to bring three new product tankers into service, which will help increase revenue and margins. Finansia Syrus Securities has raised its target price to 11.70 baht, while Yuanta Securities has set a new target of 12.00 baht. Additionally, PRM offers a projected 2026 dividend yield as high as 5.6 to 6.0 percent.